Start by heating the olive oil in a large skillet over medium heat.
Dice the chicken breasts into bite-sized pieces.
Once the oil is hot, add the diced chicken to the skillet and cook until browned on all sides, about 5-7 minutes.
Add the diced onion and minced garlic to the skillet and cook for another 3-4 minutes, until the onion is translucent.
Stir in the diced tomatoes (with their juices), chili powder, cumin, paprika, salt, black pepper, and the chicken broth. Mix well to combine.
Bring the mixture to a simmer and then reduce the heat to low.
Add the bell peppers and let the mixture simmer for about 5 minutes, until the vegetables are tender.
Sprinkle both types of cheese over the top of the skillet. Cover and allow the cheese to melt, about 3-5 minutes.
Once the cheese is melted, remove the skillet from heat and garnish with fresh cilantro.
Serve immediately with optional avocado slices and sour cream if desired.